Spirit of America Management Corp NY Increases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Spirit of America Management Corp NY lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 66.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250 shares of the cryptocurrency exchange’s stock after buying an additional 100 shares during the quarter. Spirit of America Management Corp NY’s holdings in Coinbase Global were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stratos Wealth Partners LTD. boosted its position in Coinbase Global by 79.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 17,242 shares of the cryptocurrency exchange’s stock valued at $4,281,000 after buying an additional 7,648 shares during the period. Yousif Capital Management LLC raised its stake in shares of Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after acquiring an additional 44 shares in the last quarter. Ninety One SA PTY Ltd purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $6,329,000. Ninety One UK Ltd bought a new position in Coinbase Global in the fourth quarter worth approximately $16,887,000. Finally, Stephens Consulting LLC increased its holdings in Coinbase Global by 200.0% during the 4th quarter. Stephens Consulting LLC now owns 750 shares of the cryptocurrency exchange’s stock worth $186,000 after purchasing an additional 500 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN stock opened at $275.14 on Thursday. The stock has a market cap of $68.88 billion, a PE ratio of 46.95 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The business has a 50-day simple moving average of $286.47 and a 200-day simple moving average of $236.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the sale, the director now directly owns 50,000 shares in the company, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 386,570 shares of company stock valued at $115,554,837. 23.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on COIN shares. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Barclays increased their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.